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Includes $ 2.6 billion and $ 2.0 billion of single-family loans that were in the process of foreclosure as of December 31, 2024 and December 31, 2023, respectively. | text | 2.6 | monetaryItemType | text: <entity> 2.6 </entity> <entity type> monetaryItemType </entity type> <context> Includes $ 2.6 billion and $ 2.0 billion of single-family loans that were in the process of foreclosure as of December 31, 2024 and December 31, 2023, respectively. </context> | us-gaap:MortgageLoansInProcessOfForeclosureAmount |
Includes $ 2.6 billion and $ 2.0 billion of single-family loans that were in the process of foreclosure as of December 31, 2024 and December 31, 2023, respectively. | text | 2.0 | monetaryItemType | text: <entity> 2.0 </entity> <entity type> monetaryItemType </entity type> <context> Includes $ 2.6 billion and $ 2.0 billion of single-family loans that were in the process of foreclosure as of December 31, 2024 and December 31, 2023, respectively. </context> | us-gaap:MortgageLoansInProcessOfForeclosureAmount |
The fair value of our available-for-sale securities held at December 31, 2024 scheduled to contractually mature after ten years was $ 1.3 billion, with an additional $ 1.4 billion scheduled to contractually mature after five years through ten years. | text | 1.3 | monetaryItemType | text: <entity> 1.3 </entity> <entity type> monetaryItemType </entity type> <context> The fair value of our available-for-sale securities held at December 31, 2024 scheduled to contractually mature after ten years was $ 1.3 billion, with an additional $ 1.4 billion scheduled to contractually mature after five years through ten years. </context> | us-gaap:AvailableForSaleSecuritiesDebtMaturitiesRollingAfterYearTenFairValue |
The fair value of our available-for-sale securities held at December 31, 2024 scheduled to contractually mature after ten years was $ 1.3 billion, with an additional $ 1.4 billion scheduled to contractually mature after five years through ten years. | text | 1.4 | monetaryItemType | text: <entity> 1.4 </entity> <entity type> monetaryItemType </entity type> <context> The fair value of our available-for-sale securities held at December 31, 2024 scheduled to contractually mature after ten years was $ 1.3 billion, with an additional $ 1.4 billion scheduled to contractually mature after five years through ten years. </context> | us-gaap:AvailableForSaleSecuritiesDebtMaturitiesRollingYearSixThroughTenFairValue |
At December 31, 2024, the gross unrealized losses relate to 146 securities. | text | 146 | integerItemType | text: <entity> 146 </entity> <entity type> integerItemType </entity type> <context> At December 31, 2024, the gross unrealized losses relate to 146 securities. </context> | us-gaap:DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions |
Includes $ 2.0 billion and $ 2.1 billion at December 31, 2024 and December 31, 2023, respectively, of debt of consolidated trusts that represents the fair value of debt for which the fair value option was elected. | text | 2.0 | monetaryItemType | text: <entity> 2.0 </entity> <entity type> monetaryItemType </entity type> <context> Includes $ 2.0 billion and $ 2.1 billion at December 31, 2024 and December 31, 2023, respectively, of debt of consolidated trusts that represents the fair value of debt for which the fair value option was elected. </context> | us-gaap:DebtInstrumentFairValue |
Includes $ 2.0 billion and $ 2.1 billion at December 31, 2024 and December 31, 2023, respectively, of debt of consolidated trusts that represents the fair value of debt for which the fair value option was elected. | text | 2.1 | monetaryItemType | text: <entity> 2.1 </entity> <entity type> monetaryItemType </entity type> <context> Includes $ 2.0 billion and $ 2.1 billion at December 31, 2024 and December 31, 2023, respectively, of debt of consolidated trusts that represents the fair value of debt for which the fair value option was elected. </context> | us-gaap:DebtInstrumentFairValue |
The effective interest rate for debt of consolidated trusts was 3.01 % and 2.73 % as of December 31, 2024 and December 31, 2023, respectively. | text | 3.01 | percentItemType | text: <entity> 3.01 </entity> <entity type> percentItemType </entity type> <context> The effective interest rate for debt of consolidated trusts was 3.01 % and 2.73 % as of December 31, 2024 and December 31, 2023, respectively. </context> | us-gaap:DebtWeightedAverageInterestRate |
The effective interest rate for debt of consolidated trusts was 3.01 % and 2.73 % as of December 31, 2024 and December 31, 2023, respectively. | text | 2.73 | percentItemType | text: <entity> 2.73 </entity> <entity type> percentItemType </entity type> <context> The effective interest rate for debt of consolidated trusts was 3.01 % and 2.73 % as of December 31, 2024 and December 31, 2023, respectively. </context> | us-gaap:DebtWeightedAverageInterestRate |
Represents par value, net of associated discounts or premiums and issuance costs. Includes $ 0.3 billion and $ 0.4 billion at December 31, 2024 and December 31, 2023, respectively, of long-term debt that represents the fair value of debt for which the fair value option was elected. Includes hedge-related basis adjustments. | text | 0.3 | monetaryItemType | text: <entity> 0.3 </entity> <entity type> monetaryItemType </entity type> <context> Represents par value, net of associated discounts or premiums and issuance costs. Includes $ 0.3 billion and $ 0.4 billion at December 31, 2024 and December 31, 2023, respectively, of long-term debt that represents the fair value of debt for which the fair value option was elected. Includes hedge-related basis adjustments. </context> | us-gaap:DebtInstrumentFairValue |
Represents par value, net of associated discounts or premiums and issuance costs. Includes $ 0.3 billion and $ 0.4 billion at December 31, 2024 and December 31, 2023, respectively, of long-term debt that represents the fair value of debt for which the fair value option was elected. Includes hedge-related basis adjustments. | text | 0.4 | monetaryItemType | text: <entity> 0.4 </entity> <entity type> monetaryItemType </entity type> <context> Represents par value, net of associated discounts or premiums and issuance costs. Includes $ 0.3 billion and $ 0.4 billion at December 31, 2024 and December 31, 2023, respectively, of long-term debt that represents the fair value of debt for which the fair value option was elected. Includes hedge-related basis adjustments. </context> | us-gaap:DebtInstrumentFairValue |
$ 6.8 billion and $ 6.4 billion at December 31, 2024 and December 31, 2023, respectively, and a fair value of $ 1.0 million at both December 31, 2024 and December 31, 2023. | text | 6.8 | monetaryItemType | text: <entity> 6.8 </entity> <entity type> monetaryItemType </entity type> <context> $ 6.8 billion and $ 6.4 billion at December 31, 2024 and December 31, 2023, respectively, and a fair value of $ 1.0 million at both December 31, 2024 and December 31, 2023. </context> | us-gaap:DerivativeNotionalAmount |
$ 6.8 billion and $ 6.4 billion at December 31, 2024 and December 31, 2023, respectively, and a fair value of $ 1.0 million at both December 31, 2024 and December 31, 2023. | text | 6.4 | monetaryItemType | text: <entity> 6.4 </entity> <entity type> monetaryItemType </entity type> <context> $ 6.8 billion and $ 6.4 billion at December 31, 2024 and December 31, 2023, respectively, and a fair value of $ 1.0 million at both December 31, 2024 and December 31, 2023. </context> | us-gaap:DerivativeNotionalAmount |
, we issued one million shares of senior preferred stock to Treasury on September 8, 2008, in partial consideration of Treasury's commitment to provide funds to us. | text | one million | sharesItemType | text: <entity> one million </entity> <entity type> sharesItemType </entity type> <context> , we issued one million shares of senior preferred stock to Treasury on September 8, 2008, in partial consideration of Treasury's commitment to provide funds to us. </context> | us-gaap:StockIssuedDuringPeriodSharesNewIssues |
Shares of the senior preferred stock have a par value of $ 1 and have a stated value and initial liquidation preference of $ 1 billion, or $ 1,000 per share. The liquidation preference of the senior preferred stock is subject to adjustment. See | text | 1 | perShareItemType | text: <entity> 1 </entity> <entity type> perShareItemType </entity type> <context> Shares of the senior preferred stock have a par value of $ 1 and have a stated value and initial liquidation preference of $ 1 billion, or $ 1,000 per share. The liquidation preference of the senior preferred stock is subject to adjustment. See </context> | us-gaap:PreferredStockParOrStatedValuePerShare |
Shares of the senior preferred stock have a par value of $ 1 and have a stated value and initial liquidation preference of $ 1 billion, or $ 1,000 per share. The liquidation preference of the senior preferred stock is subject to adjustment. See | text | 1000 | perShareItemType | text: <entity> 1000 </entity> <entity type> perShareItemType </entity type> <context> Shares of the senior preferred stock have a par value of $ 1 and have a stated value and initial liquidation preference of $ 1 billion, or $ 1,000 per share. The liquidation preference of the senior preferred stock is subject to adjustment. See </context> | us-gaap:PreferredStockLiquidationPreference |
The warrant may be exercised in whole or in part at any time on or before September 7, 2028, by delivery to us of a notice of exercise, payment of the exercise price of $ 0.00001 per share, and the warrant. If the market price of one share of our common stock is greater than the exercise price, then, instead of paying the exercise price, Treasury may elect to receive shares equal to the value of the warrant (or portion thereof being canceled) pursuant to the formula specified in the warrant. Upon exercise of the warrant, Treasury may assign the right to receive the shares of common stock issuable upon exercise to any other person. | text | 0.00001 | perShareItemType | text: <entity> 0.00001 </entity> <entity type> perShareItemType </entity type> <context> The warrant may be exercised in whole or in part at any time on or before September 7, 2028, by delivery to us of a notice of exercise, payment of the exercise price of $ 0.00001 per share, and the warrant. If the market price of one share of our common stock is greater than the exercise price, then, instead of paying the exercise price, Treasury may elect to receive shares equal to the value of the warrant (or portion thereof being canceled) pursuant to the formula specified in the warrant. Upon exercise of the warrant, Treasury may assign the right to receive the shares of common stock issuable upon exercise to any other person. </context> | us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1 |
We account for the warrant in permanent equity. At issuance on September 7, 2008, we recognized the warrant at fair value, and we do not recognize subsequent changes in fair value while the warrant remains classified in equity. We recorded an aggregate fair value of $ 2.3 billion for the warrant as a component of additional paid-in-capital. We derived the fair value of the warrant using a modified Black-Scholes model. If the warrant is exercised, the stated value of the common stock issued will be reclassified to common stock on our consolidated balance sheets. The warrant was determined to be in-substance non-voting common stock, because the warrant's exercise price of $ 0.00001 per share is considered non-substantive (compared to the market price of our common stock). As a result, the shares associated with the warrant are included in the computation of basic and diluted earnings per share. The weighted average shares of common stock for the years ended December 31, 2024, 2023, and 2022 included shares of common stock that would be issuable upon full exercise of the warrant issued to Treasury. | text | 2.3 | monetaryItemType | text: <entity> 2.3 </entity> <entity type> monetaryItemType </entity type> <context> We account for the warrant in permanent equity. At issuance on September 7, 2008, we recognized the warrant at fair value, and we do not recognize subsequent changes in fair value while the warrant remains classified in equity. We recorded an aggregate fair value of $ 2.3 billion for the warrant as a component of additional paid-in-capital. We derived the fair value of the warrant using a modified Black-Scholes model. If the warrant is exercised, the stated value of the common stock issued will be reclassified to common stock on our consolidated balance sheets. The warrant was determined to be in-substance non-voting common stock, because the warrant's exercise price of $ 0.00001 per share is considered non-substantive (compared to the market price of our common stock). As a result, the shares associated with the warrant are included in the computation of basic and diluted earnings per share. The weighted average shares of common stock for the years ended December 31, 2024, 2023, and 2022 included shares of common stock that would be issuable upon full exercise of the warrant issued to Treasury. </context> | us-gaap:WarrantsAndRightsOutstanding |
We account for the warrant in permanent equity. At issuance on September 7, 2008, we recognized the warrant at fair value, and we do not recognize subsequent changes in fair value while the warrant remains classified in equity. We recorded an aggregate fair value of $ 2.3 billion for the warrant as a component of additional paid-in-capital. We derived the fair value of the warrant using a modified Black-Scholes model. If the warrant is exercised, the stated value of the common stock issued will be reclassified to common stock on our consolidated balance sheets. The warrant was determined to be in-substance non-voting common stock, because the warrant's exercise price of $ 0.00001 per share is considered non-substantive (compared to the market price of our common stock). As a result, the shares associated with the warrant are included in the computation of basic and diluted earnings per share. The weighted average shares of common stock for the years ended December 31, 2024, 2023, and 2022 included shares of common stock that would be issuable upon full exercise of the warrant issued to Treasury. | text | 0.00001 | perShareItemType | text: <entity> 0.00001 </entity> <entity type> perShareItemType </entity type> <context> We account for the warrant in permanent equity. At issuance on September 7, 2008, we recognized the warrant at fair value, and we do not recognize subsequent changes in fair value while the warrant remains classified in equity. We recorded an aggregate fair value of $ 2.3 billion for the warrant as a component of additional paid-in-capital. We derived the fair value of the warrant using a modified Black-Scholes model. If the warrant is exercised, the stated value of the common stock issued will be reclassified to common stock on our consolidated balance sheets. The warrant was determined to be in-substance non-voting common stock, because the warrant's exercise price of $ 0.00001 per share is considered non-substantive (compared to the market price of our common stock). As a result, the shares associated with the warrant are included in the computation of basic and diluted earnings per share. The weighted average shares of common stock for the years ended December 31, 2024, 2023, and 2022 included shares of common stock that would be issuable upon full exercise of the warrant issued to Treasury. </context> | us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1 |
Dividend rate resets quarterly and is equal to the sum of spread-adjusted three-month CME Term SOFR plus 0.50 % but not less than 4.00 % | text | 4.00 | percentItemType | text: <entity> 4.00 </entity> <entity type> percentItemType </entity type> <context> Dividend rate resets quarterly and is equal to the sum of spread-adjusted three-month CME Term SOFR plus 0.50 % but not less than 4.00 % </context> | us-gaap:PreferredStockDividendRatePercentage |
We did no t repurchase or issue any of our common shares or non-cumulative preferred stock during 2024 and 2023. At both December 31, 2024 and December 31, 2023, no RSUs or stock options were outstanding. There were 41,160 shares of restricted stock outstanding at both December 31, 2024 and December 31, 2023. | text | no | sharesItemType | text: <entity> no </entity> <entity type> sharesItemType </entity type> <context> We did no t repurchase or issue any of our common shares or non-cumulative preferred stock during 2024 and 2023. At both December 31, 2024 and December 31, 2023, no RSUs or stock options were outstanding. There were 41,160 shares of restricted stock outstanding at both December 31, 2024 and December 31, 2023. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber |
- Payment of dividends on our common stock is also subject to the prior payment of dividends on our 24 series of preferred stock and one series of senior preferred stock, representing an aggregate of 464,170,000 shares and 1,000,000 shares outstanding, respectively, as of December 31, 2024. Payment of dividends on all outstanding preferred stock, other than the senior preferred stock, is subject to the prior payment of dividends on the senior preferred stock. | text | 464170000 | sharesItemType | text: <entity> 464170000 </entity> <entity type> sharesItemType </entity type> <context> - Payment of dividends on our common stock is also subject to the prior payment of dividends on our 24 series of preferred stock and one series of senior preferred stock, representing an aggregate of 464,170,000 shares and 1,000,000 shares outstanding, respectively, as of December 31, 2024. Payment of dividends on all outstanding preferred stock, other than the senior preferred stock, is subject to the prior payment of dividends on the senior preferred stock. </context> | us-gaap:PreferredStockSharesOutstanding |
- Payment of dividends on our common stock is also subject to the prior payment of dividends on our 24 series of preferred stock and one series of senior preferred stock, representing an aggregate of 464,170,000 shares and 1,000,000 shares outstanding, respectively, as of December 31, 2024. Payment of dividends on all outstanding preferred stock, other than the senior preferred stock, is subject to the prior payment of dividends on the senior preferred stock. | text | 1000000 | sharesItemType | text: <entity> 1000000 </entity> <entity type> sharesItemType </entity type> <context> - Payment of dividends on our common stock is also subject to the prior payment of dividends on our 24 series of preferred stock and one series of senior preferred stock, representing an aggregate of 464,170,000 shares and 1,000,000 shares outstanding, respectively, as of December 31, 2024. Payment of dividends on all outstanding preferred stock, other than the senior preferred stock, is subject to the prior payment of dividends on the senior preferred stock. </context> | us-gaap:PreferredStockSharesOutstanding |
Based on all positive and negative evidence available at December 31, 2024, we determined that it is more likely than not that our net deferred tax assets, except for the deferred tax asset related to our capital loss carryforwards, will be realized. A valuation allowance of $ 17 million has been recorded against our capital loss carryforward deferred tax asset. | text | 17 | monetaryItemType | text: <entity> 17 </entity> <entity type> monetaryItemType </entity type> <context> Based on all positive and negative evidence available at December 31, 2024, we determined that it is more likely than not that our net deferred tax assets, except for the deferred tax asset related to our capital loss carryforwards, will be realized. A valuation allowance of $ 17 million has been recorded against our capital loss carryforward deferred tax asset. </context> | us-gaap:DeferredTaxAssetsValuationAllowance |
We recognize a tax position taken or expected to be taken (and any associated interest and penalties) if it is more likely than not that it will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. We measure the tax position at the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. We evaluated all income tax positions and determined that there were no uncertain tax positions that required reserves as of December 31, 2024. | text | no | monetaryItemType | text: <entity> no </entity> <entity type> monetaryItemType </entity type> <context> We recognize a tax position taken or expected to be taken (and any associated interest and penalties) if it is more likely than not that it will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. We measure the tax position at the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. We evaluated all income tax positions and determined that there were no uncertain tax positions that required reserves as of December 31, 2024. </context> | us-gaap:UnrecognizedTaxBenefits |
As shown in the table below, we have two reportable segments, Single-Family and Multifamily. | text | two | integerItemType | text: <entity> two </entity> <entity type> integerItemType </entity type> <context> As shown in the table below, we have two reportable segments, Single-Family and Multifamily. </context> | us-gaap:NumberOfReportableSegments |
We acquire a significant portion of our Single-Family loan purchase volume from several large sellers. Our top 10 sellers provided approximately 55 % of our Single-Family purchase volume, including one seller that provided 10% or more of our Single-Family purchase volume during 2024. | text | 55 | percentItemType | text: <entity> 55 </entity> <entity type> percentItemType </entity type> <context> We acquire a significant portion of our Single-Family loan purchase volume from several large sellers. Our top 10 sellers provided approximately 55 % of our Single-Family purchase volume, including one seller that provided 10% or more of our Single-Family purchase volume during 2024. </context> | us-gaap:ConcentrationRiskPercentage1 |
We purchase single-family loans from both depository and non-depository sellers. Non-depository institutions may not have the same financial strength or operational capacity, or be subject to the same level of regulatory oversight, as large depository institutions. Our top five non-depository sellers provided approximately 42 % of our Single-Family purchase volume during 2024. | text | 42 | percentItemType | text: <entity> 42 </entity> <entity type> percentItemType </entity type> <context> We purchase single-family loans from both depository and non-depository sellers. Non-depository institutions may not have the same financial strength or operational capacity, or be subject to the same level of regulatory oversight, as large depository institutions. Our top five non-depository sellers provided approximately 42 % of our Single-Family purchase volume during 2024. </context> | us-gaap:ConcentrationRiskPercentage1 |
Several large servicers hold the rights to service significant portions of our single-family loans. Our top 10 servicers held the rights to service approximately 55 % of our Single-Family mortgage portfolio, including one servicer that held servicing rights for 10% or more of our Single-Family mortgage portfolio as of December 31, 2024. Our servicers may choose to use sub-servicers to execute servicing on their behalf. | text | 55 | percentItemType | text: <entity> 55 </entity> <entity type> percentItemType </entity type> <context> Several large servicers hold the rights to service significant portions of our single-family loans. Our top 10 servicers held the rights to service approximately 55 % of our Single-Family mortgage portfolio, including one servicer that held servicing rights for 10% or more of our Single-Family mortgage portfolio as of December 31, 2024. Our servicers may choose to use sub-servicers to execute servicing on their behalf. </context> | us-gaap:ConcentrationRiskPercentage1 |
We utilize both depository and non-depository servicers for single-family loans. Some of these non-depository servicers hold the rights to service a large share of our loans. As of December 31, 2024, approximately 29 % of servicing rights for our Single-Family mortgage portfolio, excluding loans for which we do not exercise control over the associated servicing, was held by our five largest non-depository servicers, on a combined basis. We routinely monitor the performance of our largest non-depository servicers. | text | 29 | percentItemType | text: <entity> 29 </entity> <entity type> percentItemType </entity type> <context> We utilize both depository and non-depository servicers for single-family loans. Some of these non-depository servicers hold the rights to service a large share of our loans. As of December 31, 2024, approximately 29 % of servicing rights for our Single-Family mortgage portfolio, excluding loans for which we do not exercise control over the associated servicing, was held by our five largest non-depository servicers, on a combined basis. We routinely monitor the performance of our largest non-depository servicers. </context> | us-gaap:ConcentrationRiskPercentage1 |
We acquire a significant portion of our Multifamily loan purchase and guarantee volume from several large sellers. Our top 10 sellers provided approximately 70 % of our Multifamily purchase and guarantee volume, including three sellers that each provided 10% or more of our Multifamily purchase and guarantee volume during 2024. | text | 70 | percentItemType | text: <entity> 70 </entity> <entity type> percentItemType </entity type> <context> We acquire a significant portion of our Multifamily loan purchase and guarantee volume from several large sellers. Our top 10 sellers provided approximately 70 % of our Multifamily purchase and guarantee volume, including three sellers that each provided 10% or more of our Multifamily purchase and guarantee volume during 2024. </context> | us-gaap:ConcentrationRiskPercentage1 |
Significant portions of our multifamily loans are serviced by several large servicers. Our top 10 servicers serviced approximately 77 % of our Multifamily mortgage portfolio, including three servicers that each serviced 10% or more of our Multifamily mortgage portfolio as of December 31, 2024. | text | 77 | percentItemType | text: <entity> 77 </entity> <entity type> percentItemType </entity type> <context> Significant portions of our multifamily loans are serviced by several large servicers. Our top 10 servicers serviced approximately 77 % of our Multifamily mortgage portfolio, including three servicers that each serviced 10% or more of our Multifamily mortgage portfolio as of December 31, 2024. </context> | us-gaap:ConcentrationRiskPercentage1 |
The GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $ 3.2 trillion, $ 4.2 billion and $ 13.8 billion as of December 31, 2024, respectively, and $ 3.1 trillion, $ 5.6 billion and $ 9.2 billion as of December 31, 2023, respectively. | text | 3.2 | monetaryItemType | text: <entity> 3.2 </entity> <entity type> monetaryItemType </entity type> <context> The GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $ 3.2 trillion, $ 4.2 billion and $ 13.8 billion as of December 31, 2024, respectively, and $ 3.1 trillion, $ 5.6 billion and $ 9.2 billion as of December 31, 2023, respectively. </context> | us-gaap:LoansReceivableFairValueDisclosure |
The GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $ 3.2 trillion, $ 4.2 billion and $ 13.8 billion as of December 31, 2024, respectively, and $ 3.1 trillion, $ 5.6 billion and $ 9.2 billion as of December 31, 2023, respectively. | text | 4.2 | monetaryItemType | text: <entity> 4.2 </entity> <entity type> monetaryItemType </entity type> <context> The GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $ 3.2 trillion, $ 4.2 billion and $ 13.8 billion as of December 31, 2024, respectively, and $ 3.1 trillion, $ 5.6 billion and $ 9.2 billion as of December 31, 2023, respectively. </context> | us-gaap:LoansReceivableFairValueDisclosure |
The GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $ 3.2 trillion, $ 4.2 billion and $ 13.8 billion as of December 31, 2024, respectively, and $ 3.1 trillion, $ 5.6 billion and $ 9.2 billion as of December 31, 2023, respectively. | text | 13.8 | monetaryItemType | text: <entity> 13.8 </entity> <entity type> monetaryItemType </entity type> <context> The GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $ 3.2 trillion, $ 4.2 billion and $ 13.8 billion as of December 31, 2024, respectively, and $ 3.1 trillion, $ 5.6 billion and $ 9.2 billion as of December 31, 2023, respectively. </context> | us-gaap:LoansReceivableFairValueDisclosure |
The GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $ 3.2 trillion, $ 4.2 billion and $ 13.8 billion as of December 31, 2024, respectively, and $ 3.1 trillion, $ 5.6 billion and $ 9.2 billion as of December 31, 2023, respectively. | text | 3.1 | monetaryItemType | text: <entity> 3.1 </entity> <entity type> monetaryItemType </entity type> <context> The GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $ 3.2 trillion, $ 4.2 billion and $ 13.8 billion as of December 31, 2024, respectively, and $ 3.1 trillion, $ 5.6 billion and $ 9.2 billion as of December 31, 2023, respectively. </context> | us-gaap:LoansReceivableFairValueDisclosure |
The GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $ 3.2 trillion, $ 4.2 billion and $ 13.8 billion as of December 31, 2024, respectively, and $ 3.1 trillion, $ 5.6 billion and $ 9.2 billion as of December 31, 2023, respectively. | text | 5.6 | monetaryItemType | text: <entity> 5.6 </entity> <entity type> monetaryItemType </entity type> <context> The GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $ 3.2 trillion, $ 4.2 billion and $ 13.8 billion as of December 31, 2024, respectively, and $ 3.1 trillion, $ 5.6 billion and $ 9.2 billion as of December 31, 2023, respectively. </context> | us-gaap:LoansReceivableFairValueDisclosure |
The GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $ 3.2 trillion, $ 4.2 billion and $ 13.8 billion as of December 31, 2024, respectively, and $ 3.1 trillion, $ 5.6 billion and $ 9.2 billion as of December 31, 2023, respectively. | text | 9.2 | monetaryItemType | text: <entity> 9.2 </entity> <entity type> monetaryItemType </entity type> <context> The GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $ 3.2 trillion, $ 4.2 billion and $ 13.8 billion as of December 31, 2024, respectively, and $ 3.1 trillion, $ 5.6 billion and $ 9.2 billion as of December 31, 2023, respectively. </context> | us-gaap:LoansReceivableFairValueDisclosure |
The GAAP carrying amounts measured at amortized cost and FV - NI were $ 3.3 trillion and $ 2.3 billion as of December 31, 2024, respectively, and $ 3.2 trillion and $ 2.5 billion as of December 31, 2023, respectively. | text | 3.3 | monetaryItemType | text: <entity> 3.3 </entity> <entity type> monetaryItemType </entity type> <context> The GAAP carrying amounts measured at amortized cost and FV - NI were $ 3.3 trillion and $ 2.3 billion as of December 31, 2024, respectively, and $ 3.2 trillion and $ 2.5 billion as of December 31, 2023, respectively. </context> | us-gaap:DebtInstrumentFairValue |
The GAAP carrying amounts measured at amortized cost and FV - NI were $ 3.3 trillion and $ 2.3 billion as of December 31, 2024, respectively, and $ 3.2 trillion and $ 2.5 billion as of December 31, 2023, respectively. | text | 2.3 | monetaryItemType | text: <entity> 2.3 </entity> <entity type> monetaryItemType </entity type> <context> The GAAP carrying amounts measured at amortized cost and FV - NI were $ 3.3 trillion and $ 2.3 billion as of December 31, 2024, respectively, and $ 3.2 trillion and $ 2.5 billion as of December 31, 2023, respectively. </context> | us-gaap:DebtInstrumentFairValue |
The GAAP carrying amounts measured at amortized cost and FV - NI were $ 3.3 trillion and $ 2.3 billion as of December 31, 2024, respectively, and $ 3.2 trillion and $ 2.5 billion as of December 31, 2023, respectively. | text | 3.2 | monetaryItemType | text: <entity> 3.2 </entity> <entity type> monetaryItemType </entity type> <context> The GAAP carrying amounts measured at amortized cost and FV - NI were $ 3.3 trillion and $ 2.3 billion as of December 31, 2024, respectively, and $ 3.2 trillion and $ 2.5 billion as of December 31, 2023, respectively. </context> | us-gaap:DebtInstrumentFairValue |
The GAAP carrying amounts measured at amortized cost and FV - NI were $ 3.3 trillion and $ 2.3 billion as of December 31, 2024, respectively, and $ 3.2 trillion and $ 2.5 billion as of December 31, 2023, respectively. | text | 2.5 | monetaryItemType | text: <entity> 2.5 </entity> <entity type> monetaryItemType </entity type> <context> The GAAP carrying amounts measured at amortized cost and FV - NI were $ 3.3 trillion and $ 2.3 billion as of December 31, 2024, respectively, and $ 3.2 trillion and $ 2.5 billion as of December 31, 2023, respectively. </context> | us-gaap:DebtInstrumentFairValue |
Court rulings limited the Plaintiffs’ damages theories to those based on the decline in Freddie Mac’s and Fannie Mae’s share value immediately after the Third Amendment. The Plaintiffs asserted losses based on the decline in value of Freddie Mac’s common and junior preferred stock from August 16 to August 17, 2012. During the trial in October and early November 2022, the Plaintiffs requested that the jury award $ 832 million plus pre-judgment interest as damages against Freddie Mac. The jury in that trial was not able to reach a unanimous verdict and on November 7, 2022 the judge declared a mistrial. The retrial started on July 24, 2023. On August 14, 2023, the jury returned a verdict against FHFA, Fannie Mae, and Freddie Mac awarding compensatory damages of $ 282 million to Freddie Mac junior preferred shareholders and $ 31 million to Freddie Mac common shareholders. The jury declined to award the Freddie Mac shareholders prejudgment interest. In 2023, we recorded a $ 313 million accrual in other expense on our condensed consolidated statements of income for the adverse judgment. On March 20, 2024, the District Court entered final judgment. On April 17, 2024, the defendants filed a motion requesting entry of judgment in their favor notwithstanding the jury verdict, which has been fully briefed. | text | 832 | monetaryItemType | text: <entity> 832 </entity> <entity type> monetaryItemType </entity type> <context> Court rulings limited the Plaintiffs’ damages theories to those based on the decline in Freddie Mac’s and Fannie Mae’s share value immediately after the Third Amendment. The Plaintiffs asserted losses based on the decline in value of Freddie Mac’s common and junior preferred stock from August 16 to August 17, 2012. During the trial in October and early November 2022, the Plaintiffs requested that the jury award $ 832 million plus pre-judgment interest as damages against Freddie Mac. The jury in that trial was not able to reach a unanimous verdict and on November 7, 2022 the judge declared a mistrial. The retrial started on July 24, 2023. On August 14, 2023, the jury returned a verdict against FHFA, Fannie Mae, and Freddie Mac awarding compensatory damages of $ 282 million to Freddie Mac junior preferred shareholders and $ 31 million to Freddie Mac common shareholders. The jury declined to award the Freddie Mac shareholders prejudgment interest. In 2023, we recorded a $ 313 million accrual in other expense on our condensed consolidated statements of income for the adverse judgment. On March 20, 2024, the District Court entered final judgment. On April 17, 2024, the defendants filed a motion requesting entry of judgment in their favor notwithstanding the jury verdict, which has been fully briefed. </context> | us-gaap:LossContingencyDamagesSoughtValue |
Court rulings limited the Plaintiffs’ damages theories to those based on the decline in Freddie Mac’s and Fannie Mae’s share value immediately after the Third Amendment. The Plaintiffs asserted losses based on the decline in value of Freddie Mac’s common and junior preferred stock from August 16 to August 17, 2012. During the trial in October and early November 2022, the Plaintiffs requested that the jury award $ 832 million plus pre-judgment interest as damages against Freddie Mac. The jury in that trial was not able to reach a unanimous verdict and on November 7, 2022 the judge declared a mistrial. The retrial started on July 24, 2023. On August 14, 2023, the jury returned a verdict against FHFA, Fannie Mae, and Freddie Mac awarding compensatory damages of $ 282 million to Freddie Mac junior preferred shareholders and $ 31 million to Freddie Mac common shareholders. The jury declined to award the Freddie Mac shareholders prejudgment interest. In 2023, we recorded a $ 313 million accrual in other expense on our condensed consolidated statements of income for the adverse judgment. On March 20, 2024, the District Court entered final judgment. On April 17, 2024, the defendants filed a motion requesting entry of judgment in their favor notwithstanding the jury verdict, which has been fully briefed. | text | 282 | monetaryItemType | text: <entity> 282 </entity> <entity type> monetaryItemType </entity type> <context> Court rulings limited the Plaintiffs’ damages theories to those based on the decline in Freddie Mac’s and Fannie Mae’s share value immediately after the Third Amendment. The Plaintiffs asserted losses based on the decline in value of Freddie Mac’s common and junior preferred stock from August 16 to August 17, 2012. During the trial in October and early November 2022, the Plaintiffs requested that the jury award $ 832 million plus pre-judgment interest as damages against Freddie Mac. The jury in that trial was not able to reach a unanimous verdict and on November 7, 2022 the judge declared a mistrial. The retrial started on July 24, 2023. On August 14, 2023, the jury returned a verdict against FHFA, Fannie Mae, and Freddie Mac awarding compensatory damages of $ 282 million to Freddie Mac junior preferred shareholders and $ 31 million to Freddie Mac common shareholders. The jury declined to award the Freddie Mac shareholders prejudgment interest. In 2023, we recorded a $ 313 million accrual in other expense on our condensed consolidated statements of income for the adverse judgment. On March 20, 2024, the District Court entered final judgment. On April 17, 2024, the defendants filed a motion requesting entry of judgment in their favor notwithstanding the jury verdict, which has been fully briefed. </context> | us-gaap:LossContingencyDamagesAwardedValue |
Court rulings limited the Plaintiffs’ damages theories to those based on the decline in Freddie Mac’s and Fannie Mae’s share value immediately after the Third Amendment. The Plaintiffs asserted losses based on the decline in value of Freddie Mac’s common and junior preferred stock from August 16 to August 17, 2012. During the trial in October and early November 2022, the Plaintiffs requested that the jury award $ 832 million plus pre-judgment interest as damages against Freddie Mac. The jury in that trial was not able to reach a unanimous verdict and on November 7, 2022 the judge declared a mistrial. The retrial started on July 24, 2023. On August 14, 2023, the jury returned a verdict against FHFA, Fannie Mae, and Freddie Mac awarding compensatory damages of $ 282 million to Freddie Mac junior preferred shareholders and $ 31 million to Freddie Mac common shareholders. The jury declined to award the Freddie Mac shareholders prejudgment interest. In 2023, we recorded a $ 313 million accrual in other expense on our condensed consolidated statements of income for the adverse judgment. On March 20, 2024, the District Court entered final judgment. On April 17, 2024, the defendants filed a motion requesting entry of judgment in their favor notwithstanding the jury verdict, which has been fully briefed. | text | 31 | monetaryItemType | text: <entity> 31 </entity> <entity type> monetaryItemType </entity type> <context> Court rulings limited the Plaintiffs’ damages theories to those based on the decline in Freddie Mac’s and Fannie Mae’s share value immediately after the Third Amendment. The Plaintiffs asserted losses based on the decline in value of Freddie Mac’s common and junior preferred stock from August 16 to August 17, 2012. During the trial in October and early November 2022, the Plaintiffs requested that the jury award $ 832 million plus pre-judgment interest as damages against Freddie Mac. The jury in that trial was not able to reach a unanimous verdict and on November 7, 2022 the judge declared a mistrial. The retrial started on July 24, 2023. On August 14, 2023, the jury returned a verdict against FHFA, Fannie Mae, and Freddie Mac awarding compensatory damages of $ 282 million to Freddie Mac junior preferred shareholders and $ 31 million to Freddie Mac common shareholders. The jury declined to award the Freddie Mac shareholders prejudgment interest. In 2023, we recorded a $ 313 million accrual in other expense on our condensed consolidated statements of income for the adverse judgment. On March 20, 2024, the District Court entered final judgment. On April 17, 2024, the defendants filed a motion requesting entry of judgment in their favor notwithstanding the jury verdict, which has been fully briefed. </context> | us-gaap:LossContingencyDamagesAwardedValue |
Court rulings limited the Plaintiffs’ damages theories to those based on the decline in Freddie Mac’s and Fannie Mae’s share value immediately after the Third Amendment. The Plaintiffs asserted losses based on the decline in value of Freddie Mac’s common and junior preferred stock from August 16 to August 17, 2012. During the trial in October and early November 2022, the Plaintiffs requested that the jury award $ 832 million plus pre-judgment interest as damages against Freddie Mac. The jury in that trial was not able to reach a unanimous verdict and on November 7, 2022 the judge declared a mistrial. The retrial started on July 24, 2023. On August 14, 2023, the jury returned a verdict against FHFA, Fannie Mae, and Freddie Mac awarding compensatory damages of $ 282 million to Freddie Mac junior preferred shareholders and $ 31 million to Freddie Mac common shareholders. The jury declined to award the Freddie Mac shareholders prejudgment interest. In 2023, we recorded a $ 313 million accrual in other expense on our condensed consolidated statements of income for the adverse judgment. On March 20, 2024, the District Court entered final judgment. On April 17, 2024, the defendants filed a motion requesting entry of judgment in their favor notwithstanding the jury verdict, which has been fully briefed. | text | 313 | monetaryItemType | text: <entity> 313 </entity> <entity type> monetaryItemType </entity type> <context> Court rulings limited the Plaintiffs’ damages theories to those based on the decline in Freddie Mac’s and Fannie Mae’s share value immediately after the Third Amendment. The Plaintiffs asserted losses based on the decline in value of Freddie Mac’s common and junior preferred stock from August 16 to August 17, 2012. During the trial in October and early November 2022, the Plaintiffs requested that the jury award $ 832 million plus pre-judgment interest as damages against Freddie Mac. The jury in that trial was not able to reach a unanimous verdict and on November 7, 2022 the judge declared a mistrial. The retrial started on July 24, 2023. On August 14, 2023, the jury returned a verdict against FHFA, Fannie Mae, and Freddie Mac awarding compensatory damages of $ 282 million to Freddie Mac junior preferred shareholders and $ 31 million to Freddie Mac common shareholders. The jury declined to award the Freddie Mac shareholders prejudgment interest. In 2023, we recorded a $ 313 million accrual in other expense on our condensed consolidated statements of income for the adverse judgment. On March 20, 2024, the District Court entered final judgment. On April 17, 2024, the defendants filed a motion requesting entry of judgment in their favor notwithstanding the jury verdict, which has been fully briefed. </context> | us-gaap:LossContingencyAccrualAtCarryingValue |
For the years ended December 31, 2023, 2022 and 2021, Principal payments on debt includes cash charges of $ 0 and $ 0 and $ 75 , respectively, related to the extinguishment of debt prior to maturity. See Note 6, Long-Term Debt and Credit Facilities for additional information. | text | 0 | monetaryItemType | text: <entity> 0 </entity> <entity type> monetaryItemType </entity type> <context> For the years ended December 31, 2023, 2022 and 2021, Principal payments on debt includes cash charges of $ 0 and $ 0 and $ 75 , respectively, related to the extinguishment of debt prior to maturity. See Note 6, Long-Term Debt and Credit Facilities for additional information. </context> | us-gaap:PaymentsOfDebtExtinguishmentCosts |
For the years ended December 31, 2023, 2022 and 2021, Principal payments on debt includes cash charges of $ 0 and $ 0 and $ 75 , respectively, related to the extinguishment of debt prior to maturity. See Note 6, Long-Term Debt and Credit Facilities for additional information. | text | 75 | monetaryItemType | text: <entity> 75 </entity> <entity type> monetaryItemType </entity type> <context> For the years ended December 31, 2023, 2022 and 2021, Principal payments on debt includes cash charges of $ 0 and $ 0 and $ 75 , respectively, related to the extinguishment of debt prior to maturity. See Note 6, Long-Term Debt and Credit Facilities for additional information. </context> | us-gaap:PaymentsOfDebtExtinguishmentCosts |
The Company manufactures and markets a wide variety of products in the U.S. and around the world in two product segments: Oral, Personal and Home Care; and Pet Nutrition. Oral, Personal and Home Care products include toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners and other similar items. These products are sold primarily to a variety of traditional and eCommerce retailers, wholesalers, distributors, dentists and, in some segments, skin health professionals. Pet Nutrition products include specialty pet nutrition products manufactured and marketed by Hill’s Pet Nutrition. The principal customers for Pet Nutrition products are authorized pet supply retailers, veterinarians and eCommerce retailers. Some of our products are also sold direct-to-consumer. Principal global and regional trademarks include Colgate, Palmolive, Darlie, elmex, hello, meridol, Sorriso, Tom’s of Maine, EltaMD, Filorga, Irish Spring, Lady Speed Stick, PCA SKIN, Protex, Sanex, Softsoap, Speed Stick, Ajax, Axion, Fabuloso, Murphy, Soupline and Suavitel, as well as Hill’s Science Diet and Hill’s Prescription Diet. | text | two | integerItemType | text: <entity> two </entity> <entity type> integerItemType </entity type> <context> The Company manufactures and markets a wide variety of products in the U.S. and around the world in two product segments: Oral, Personal and Home Care; and Pet Nutrition. Oral, Personal and Home Care products include toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners and other similar items. These products are sold primarily to a variety of traditional and eCommerce retailers, wholesalers, distributors, dentists and, in some segments, skin health professionals. Pet Nutrition products include specialty pet nutrition products manufactured and marketed by Hill’s Pet Nutrition. The principal customers for Pet Nutrition products are authorized pet supply retailers, veterinarians and eCommerce retailers. Some of our products are also sold direct-to-consumer. Principal global and regional trademarks include Colgate, Palmolive, Darlie, elmex, hello, meridol, Sorriso, Tom’s of Maine, EltaMD, Filorga, Irish Spring, Lady Speed Stick, PCA SKIN, Protex, Sanex, Softsoap, Speed Stick, Ajax, Axion, Fabuloso, Murphy, Soupline and Suavitel, as well as Hill’s Science Diet and Hill’s Prescription Diet. </context> | us-gaap:NumberOfOperatingSegments |
Shipping and handling costs (also referred to as logistics costs) are classified as Selling, general and administrative expenses and were $ 1,771 , $ 1,874 and $ 1,687 for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 1771 | monetaryItemType | text: <entity> 1771 </entity> <entity type> monetaryItemType </entity type> <context> Shipping and handling costs (also referred to as logistics costs) are classified as Selling, general and administrative expenses and were $ 1,771 , $ 1,874 and $ 1,687 for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:SellingGeneralAndAdministrativeExpense |
Shipping and handling costs (also referred to as logistics costs) are classified as Selling, general and administrative expenses and were $ 1,771 , $ 1,874 and $ 1,687 for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 1874 | monetaryItemType | text: <entity> 1874 </entity> <entity type> monetaryItemType </entity type> <context> Shipping and handling costs (also referred to as logistics costs) are classified as Selling, general and administrative expenses and were $ 1,771 , $ 1,874 and $ 1,687 for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:SellingGeneralAndAdministrativeExpense |
Shipping and handling costs (also referred to as logistics costs) are classified as Selling, general and administrative expenses and were $ 1,771 , $ 1,874 and $ 1,687 for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 1687 | monetaryItemType | text: <entity> 1687 </entity> <entity type> monetaryItemType </entity type> <context> Shipping and handling costs (also referred to as logistics costs) are classified as Selling, general and administrative expenses and were $ 1,771 , $ 1,874 and $ 1,687 for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:SellingGeneralAndAdministrativeExpense |
The cost of approximately 75 % of inventories is determined using the FIFO method, which is stated at the lower of cost or net realizable value. The cost of all other inventories, in the U.S. and Mexico, is determined using the LIFO method, which is stated at the lower of cost or market. Inventories in excess of one year of forecasted sales are classified in the Consolidated Balance Sheets as non-current “Other assets.” | text | 75 | percentItemType | text: <entity> 75 </entity> <entity type> percentItemType </entity type> <context> The cost of approximately 75 % of inventories is determined using the FIFO method, which is stated at the lower of cost or net realizable value. The cost of all other inventories, in the U.S. and Mexico, is determined using the LIFO method, which is stated at the lower of cost or market. Inventories in excess of one year of forecasted sales are classified in the Consolidated Balance Sheets as non-current “Other assets.” </context> | us-gaap:PercentageOfFIFOInventory |
On September 30, 2022, the Company acquired a business that operates three dry pet food manufacturing plants in the United States from Red Collar Pet Foods Holdings, Inc. and Red Collar Pet Foods Holdings, L.P. (collectively, “Red Collar Pet Foods”) for cash consideration of $ 719 to further support the global growth of its Hill’s Pet Nutrition business. The acquisition was financed with a combination of debt and cash and was accounted for as a business combination in accordance with ASC 805. | text | 719 | monetaryItemType | text: <entity> 719 </entity> <entity type> monetaryItemType </entity type> <context> On September 30, 2022, the Company acquired a business that operates three dry pet food manufacturing plants in the United States from Red Collar Pet Foods Holdings, Inc. and Red Collar Pet Foods Holdings, L.P. (collectively, “Red Collar Pet Foods”) for cash consideration of $ 719 to further support the global growth of its Hill’s Pet Nutrition business. The acquisition was financed with a combination of debt and cash and was accounted for as a business combination in accordance with ASC 805. </context> | us-gaap:BusinessCombinationConsiderationTransferred1 |
During the fourth quarter of 2022, the Company finalized its purchase price allocation and the final purchase price of $ 719 was allocated to the net assets acquired based on their respective fair values as follows: | text | 719 | monetaryItemType | text: <entity> 719 </entity> <entity type> monetaryItemType </entity type> <context> During the fourth quarter of 2022, the Company finalized its purchase price allocation and the final purchase price of $ 719 was allocated to the net assets acquired based on their respective fair values as follows: </context> | us-gaap:PaymentsToAcquireBusinessesGross |
Goodwill of $ 413 was allocated to the Pet Nutrition segment. Goodwill will not be deductible for tax purposes. | text | 413 | monetaryItemType | text: <entity> 413 </entity> <entity type> monetaryItemType </entity type> <context> Goodwill of $ 413 was allocated to the Pet Nutrition segment. Goodwill will not be deductible for tax purposes. </context> | us-gaap:Goodwill |
Implementation of the 2022 Global Productivity Initiative, which is expected to be substantially completed by mid-year 2024, is estimated to result in cumulative pre-tax charges, once all phases are approved and implemented, in the range of $ 200 to $ 240 ($ 170 to $ 200 aftertax), which is currently estimated to be comprised of the following: employee-related costs, including severance, pension and other termination benefits ( 80 %); asset-related costs, primarily accelerated depreciation and asset write-downs ( 10 %); and other charges ( 10 %), which include contract termination costs, consisting primarily of implementation-related charges resulting directly from exit activities and the implementation of new strategies. It is estimated that approximately 80 % to 90 % of the charges will result in cash expenditures. | text | 200 | monetaryItemType | text: <entity> 200 </entity> <entity type> monetaryItemType </entity type> <context> Implementation of the 2022 Global Productivity Initiative, which is expected to be substantially completed by mid-year 2024, is estimated to result in cumulative pre-tax charges, once all phases are approved and implemented, in the range of $ 200 to $ 240 ($ 170 to $ 200 aftertax), which is currently estimated to be comprised of the following: employee-related costs, including severance, pension and other termination benefits ( 80 %); asset-related costs, primarily accelerated depreciation and asset write-downs ( 10 %); and other charges ( 10 %), which include contract termination costs, consisting primarily of implementation-related charges resulting directly from exit activities and the implementation of new strategies. It is estimated that approximately 80 % to 90 % of the charges will result in cash expenditures. </context> | us-gaap:RestructuringAndRelatedCostExpectedCost1 |
Implementation of the 2022 Global Productivity Initiative, which is expected to be substantially completed by mid-year 2024, is estimated to result in cumulative pre-tax charges, once all phases are approved and implemented, in the range of $ 200 to $ 240 ($ 170 to $ 200 aftertax), which is currently estimated to be comprised of the following: employee-related costs, including severance, pension and other termination benefits ( 80 %); asset-related costs, primarily accelerated depreciation and asset write-downs ( 10 %); and other charges ( 10 %), which include contract termination costs, consisting primarily of implementation-related charges resulting directly from exit activities and the implementation of new strategies. It is estimated that approximately 80 % to 90 % of the charges will result in cash expenditures. | text | 240 | monetaryItemType | text: <entity> 240 </entity> <entity type> monetaryItemType </entity type> <context> Implementation of the 2022 Global Productivity Initiative, which is expected to be substantially completed by mid-year 2024, is estimated to result in cumulative pre-tax charges, once all phases are approved and implemented, in the range of $ 200 to $ 240 ($ 170 to $ 200 aftertax), which is currently estimated to be comprised of the following: employee-related costs, including severance, pension and other termination benefits ( 80 %); asset-related costs, primarily accelerated depreciation and asset write-downs ( 10 %); and other charges ( 10 %), which include contract termination costs, consisting primarily of implementation-related charges resulting directly from exit activities and the implementation of new strategies. It is estimated that approximately 80 % to 90 % of the charges will result in cash expenditures. </context> | us-gaap:RestructuringAndRelatedCostExpectedCost1 |
Since the inception of the 2022 Global Productivity Initiative, the Company has incurred cumulative pretax charges of $ 142 ($ 112 aftertax) in connection with the implementation of various projects as follows: | text | 142 | monetaryItemType | text: <entity> 142 </entity> <entity type> monetaryItemType </entity type> <context> Since the inception of the 2022 Global Productivity Initiative, the Company has incurred cumulative pretax charges of $ 142 ($ 112 aftertax) in connection with the implementation of various projects as follows: </context> | us-gaap:RestructuringAndRelatedCostCostIncurredToDate1 |
The change in the net carrying amounts of Other intangible assets during 2023 was due to foreign currency translation and amortization expense of $ 72 . Annual estimated amortization expense for each of the next five years is expected to be approximately $ 72 . In 2023, the Company re-characterized a certain trademark from an indefinite to a finite life intangible asset based on an assessment of certain macroeconomic conditions, historical performance and demand. The carrying value of this trademark as of December 31, 2023 is $ 260 and is being amortized over its estimated remaining useful life of 25 years. | text | 72 | monetaryItemType | text: <entity> 72 </entity> <entity type> monetaryItemType </entity type> <context> The change in the net carrying amounts of Other intangible assets during 2023 was due to foreign currency translation and amortization expense of $ 72 . Annual estimated amortization expense for each of the next five years is expected to be approximately $ 72 . In 2023, the Company re-characterized a certain trademark from an indefinite to a finite life intangible asset based on an assessment of certain macroeconomic conditions, historical performance and demand. The carrying value of this trademark as of December 31, 2023 is $ 260 and is being amortized over its estimated remaining useful life of 25 years. </context> | us-gaap:AmortizationOfIntangibleAssets |
The change in the net carrying amounts of Other intangible assets during 2023 was due to foreign currency translation and amortization expense of $ 72 . Annual estimated amortization expense for each of the next five years is expected to be approximately $ 72 . In 2023, the Company re-characterized a certain trademark from an indefinite to a finite life intangible asset based on an assessment of certain macroeconomic conditions, historical performance and demand. The carrying value of this trademark as of December 31, 2023 is $ 260 and is being amortized over its estimated remaining useful life of 25 years. | text | 260 | monetaryItemType | text: <entity> 260 </entity> <entity type> monetaryItemType </entity type> <context> The change in the net carrying amounts of Other intangible assets during 2023 was due to foreign currency translation and amortization expense of $ 72 . Annual estimated amortization expense for each of the next five years is expected to be approximately $ 72 . In 2023, the Company re-characterized a certain trademark from an indefinite to a finite life intangible asset based on an assessment of certain macroeconomic conditions, historical performance and demand. The carrying value of this trademark as of December 31, 2023 is $ 260 and is being amortized over its estimated remaining useful life of 25 years. </context> | us-gaap:IndefiniteLivedIntangibleAssetsExcludingGoodwill |
In the fourth quarter of 2022, the Company made revisions to the internal forecasts relating to its Filorga reporting unit due primarily to the continued impact of the COVID-19 pandemic, particularly in China, as a result of government restrictions and reduced consumer mobility, which negatively impacted consumption in the duty-free, travel retail and pharmacy channels. The Company concluded that the changes in circumstances in this reporting unit and the impact of significantly higher interest rates triggered the need for an interim impairment review of its indefinite-lived trademark, goodwill, and long-lived assets which consists primarily of customer relationships. As a result of the interim impairment test, the Company concluded that the carrying value of the trademark and customer relationships exceeded their estimated fair value, and recorded impairment charges of $ 300 and $ 89 , respectively, reducing their carrying values to $ 257 and $ 118 , respectively, as of December 31, 2022. After adjusting the carrying values of the trademark and customer relationship intangible assets, the Company completed a quantitative impairment test for goodwill and recorded a goodwill impairment charge of $ 332 in the Filorga reporting unit, reducing the carrying value of goodwill to $ 214 as of December 31, 2022. The goodwill and intangible assets impairment charges are presented as a separate line item in the Consolidated Statements of Income. | text | 300 | monetaryItemType | text: <entity> 300 </entity> <entity type> monetaryItemType </entity type> <context> In the fourth quarter of 2022, the Company made revisions to the internal forecasts relating to its Filorga reporting unit due primarily to the continued impact of the COVID-19 pandemic, particularly in China, as a result of government restrictions and reduced consumer mobility, which negatively impacted consumption in the duty-free, travel retail and pharmacy channels. The Company concluded that the changes in circumstances in this reporting unit and the impact of significantly higher interest rates triggered the need for an interim impairment review of its indefinite-lived trademark, goodwill, and long-lived assets which consists primarily of customer relationships. As a result of the interim impairment test, the Company concluded that the carrying value of the trademark and customer relationships exceeded their estimated fair value, and recorded impairment charges of $ 300 and $ 89 , respectively, reducing their carrying values to $ 257 and $ 118 , respectively, as of December 31, 2022. After adjusting the carrying values of the trademark and customer relationship intangible assets, the Company completed a quantitative impairment test for goodwill and recorded a goodwill impairment charge of $ 332 in the Filorga reporting unit, reducing the carrying value of goodwill to $ 214 as of December 31, 2022. The goodwill and intangible assets impairment charges are presented as a separate line item in the Consolidated Statements of Income. </context> | us-gaap:GoodwillAndIntangibleAssetImpairment |
In the fourth quarter of 2022, the Company made revisions to the internal forecasts relating to its Filorga reporting unit due primarily to the continued impact of the COVID-19 pandemic, particularly in China, as a result of government restrictions and reduced consumer mobility, which negatively impacted consumption in the duty-free, travel retail and pharmacy channels. The Company concluded that the changes in circumstances in this reporting unit and the impact of significantly higher interest rates triggered the need for an interim impairment review of its indefinite-lived trademark, goodwill, and long-lived assets which consists primarily of customer relationships. As a result of the interim impairment test, the Company concluded that the carrying value of the trademark and customer relationships exceeded their estimated fair value, and recorded impairment charges of $ 300 and $ 89 , respectively, reducing their carrying values to $ 257 and $ 118 , respectively, as of December 31, 2022. After adjusting the carrying values of the trademark and customer relationship intangible assets, the Company completed a quantitative impairment test for goodwill and recorded a goodwill impairment charge of $ 332 in the Filorga reporting unit, reducing the carrying value of goodwill to $ 214 as of December 31, 2022. The goodwill and intangible assets impairment charges are presented as a separate line item in the Consolidated Statements of Income. | text | 89 | monetaryItemType | text: <entity> 89 </entity> <entity type> monetaryItemType </entity type> <context> In the fourth quarter of 2022, the Company made revisions to the internal forecasts relating to its Filorga reporting unit due primarily to the continued impact of the COVID-19 pandemic, particularly in China, as a result of government restrictions and reduced consumer mobility, which negatively impacted consumption in the duty-free, travel retail and pharmacy channels. The Company concluded that the changes in circumstances in this reporting unit and the impact of significantly higher interest rates triggered the need for an interim impairment review of its indefinite-lived trademark, goodwill, and long-lived assets which consists primarily of customer relationships. As a result of the interim impairment test, the Company concluded that the carrying value of the trademark and customer relationships exceeded their estimated fair value, and recorded impairment charges of $ 300 and $ 89 , respectively, reducing their carrying values to $ 257 and $ 118 , respectively, as of December 31, 2022. After adjusting the carrying values of the trademark and customer relationship intangible assets, the Company completed a quantitative impairment test for goodwill and recorded a goodwill impairment charge of $ 332 in the Filorga reporting unit, reducing the carrying value of goodwill to $ 214 as of December 31, 2022. The goodwill and intangible assets impairment charges are presented as a separate line item in the Consolidated Statements of Income. </context> | us-gaap:GoodwillAndIntangibleAssetImpairment |
In the fourth quarter of 2022, the Company made revisions to the internal forecasts relating to its Filorga reporting unit due primarily to the continued impact of the COVID-19 pandemic, particularly in China, as a result of government restrictions and reduced consumer mobility, which negatively impacted consumption in the duty-free, travel retail and pharmacy channels. The Company concluded that the changes in circumstances in this reporting unit and the impact of significantly higher interest rates triggered the need for an interim impairment review of its indefinite-lived trademark, goodwill, and long-lived assets which consists primarily of customer relationships. As a result of the interim impairment test, the Company concluded that the carrying value of the trademark and customer relationships exceeded their estimated fair value, and recorded impairment charges of $ 300 and $ 89 , respectively, reducing their carrying values to $ 257 and $ 118 , respectively, as of December 31, 2022. After adjusting the carrying values of the trademark and customer relationship intangible assets, the Company completed a quantitative impairment test for goodwill and recorded a goodwill impairment charge of $ 332 in the Filorga reporting unit, reducing the carrying value of goodwill to $ 214 as of December 31, 2022. The goodwill and intangible assets impairment charges are presented as a separate line item in the Consolidated Statements of Income. | text | 332 | monetaryItemType | text: <entity> 332 </entity> <entity type> monetaryItemType </entity type> <context> In the fourth quarter of 2022, the Company made revisions to the internal forecasts relating to its Filorga reporting unit due primarily to the continued impact of the COVID-19 pandemic, particularly in China, as a result of government restrictions and reduced consumer mobility, which negatively impacted consumption in the duty-free, travel retail and pharmacy channels. The Company concluded that the changes in circumstances in this reporting unit and the impact of significantly higher interest rates triggered the need for an interim impairment review of its indefinite-lived trademark, goodwill, and long-lived assets which consists primarily of customer relationships. As a result of the interim impairment test, the Company concluded that the carrying value of the trademark and customer relationships exceeded their estimated fair value, and recorded impairment charges of $ 300 and $ 89 , respectively, reducing their carrying values to $ 257 and $ 118 , respectively, as of December 31, 2022. After adjusting the carrying values of the trademark and customer relationship intangible assets, the Company completed a quantitative impairment test for goodwill and recorded a goodwill impairment charge of $ 332 in the Filorga reporting unit, reducing the carrying value of goodwill to $ 214 as of December 31, 2022. The goodwill and intangible assets impairment charges are presented as a separate line item in the Consolidated Statements of Income. </context> | us-gaap:GoodwillImpairmentLoss |
In the fourth quarter of 2022, the Company made revisions to the internal forecasts relating to its Filorga reporting unit due primarily to the continued impact of the COVID-19 pandemic, particularly in China, as a result of government restrictions and reduced consumer mobility, which negatively impacted consumption in the duty-free, travel retail and pharmacy channels. The Company concluded that the changes in circumstances in this reporting unit and the impact of significantly higher interest rates triggered the need for an interim impairment review of its indefinite-lived trademark, goodwill, and long-lived assets which consists primarily of customer relationships. As a result of the interim impairment test, the Company concluded that the carrying value of the trademark and customer relationships exceeded their estimated fair value, and recorded impairment charges of $ 300 and $ 89 , respectively, reducing their carrying values to $ 257 and $ 118 , respectively, as of December 31, 2022. After adjusting the carrying values of the trademark and customer relationship intangible assets, the Company completed a quantitative impairment test for goodwill and recorded a goodwill impairment charge of $ 332 in the Filorga reporting unit, reducing the carrying value of goodwill to $ 214 as of December 31, 2022. The goodwill and intangible assets impairment charges are presented as a separate line item in the Consolidated Statements of Income. | text | 214 | monetaryItemType | text: <entity> 214 </entity> <entity type> monetaryItemType </entity type> <context> In the fourth quarter of 2022, the Company made revisions to the internal forecasts relating to its Filorga reporting unit due primarily to the continued impact of the COVID-19 pandemic, particularly in China, as a result of government restrictions and reduced consumer mobility, which negatively impacted consumption in the duty-free, travel retail and pharmacy channels. The Company concluded that the changes in circumstances in this reporting unit and the impact of significantly higher interest rates triggered the need for an interim impairment review of its indefinite-lived trademark, goodwill, and long-lived assets which consists primarily of customer relationships. As a result of the interim impairment test, the Company concluded that the carrying value of the trademark and customer relationships exceeded their estimated fair value, and recorded impairment charges of $ 300 and $ 89 , respectively, reducing their carrying values to $ 257 and $ 118 , respectively, as of December 31, 2022. After adjusting the carrying values of the trademark and customer relationship intangible assets, the Company completed a quantitative impairment test for goodwill and recorded a goodwill impairment charge of $ 332 in the Filorga reporting unit, reducing the carrying value of goodwill to $ 214 as of December 31, 2022. The goodwill and intangible assets impairment charges are presented as a separate line item in the Consolidated Statements of Income. </context> | us-gaap:IntangibleAssetsNetIncludingGoodwill |
The Company’s debt issuances and redemptions support its capital structure strategy objectives of funding its business and growth initiatives while minimizing its risk-adjusted cost of capital. In March 2023, the Company issued $ 500 of three-year Senior Notes at a fixed coupon rate of 4.800 %, $ 500 of five-year Senior Notes at a fixed coupon rate of 4.600 % and $ 500 of ten-year Senior Notes at a fixed coupon rate of 4.600 %. In August 2022, the Company issued $ 500 of three-year Senior Notes at a fixed coupon rate of 3.100 %, $ 500 of five-year Senior Notes at a fixed coupon rate of 3.100 % and $ 500 of ten-year Senior Notes at a fixed coupon rate of 3.250 %. | text | 500 | monetaryItemType | text: <entity> 500 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s debt issuances and redemptions support its capital structure strategy objectives of funding its business and growth initiatives while minimizing its risk-adjusted cost of capital. In March 2023, the Company issued $ 500 of three-year Senior Notes at a fixed coupon rate of 4.800 %, $ 500 of five-year Senior Notes at a fixed coupon rate of 4.600 % and $ 500 of ten-year Senior Notes at a fixed coupon rate of 4.600 %. In August 2022, the Company issued $ 500 of three-year Senior Notes at a fixed coupon rate of 3.100 %, $ 500 of five-year Senior Notes at a fixed coupon rate of 3.100 % and $ 500 of ten-year Senior Notes at a fixed coupon rate of 3.250 %. </context> | us-gaap:DebtInstrumentFaceAmount |
The Company’s debt issuances and redemptions support its capital structure strategy objectives of funding its business and growth initiatives while minimizing its risk-adjusted cost of capital. In March 2023, the Company issued $ 500 of three-year Senior Notes at a fixed coupon rate of 4.800 %, $ 500 of five-year Senior Notes at a fixed coupon rate of 4.600 % and $ 500 of ten-year Senior Notes at a fixed coupon rate of 4.600 %. In August 2022, the Company issued $ 500 of three-year Senior Notes at a fixed coupon rate of 3.100 %, $ 500 of five-year Senior Notes at a fixed coupon rate of 3.100 % and $ 500 of ten-year Senior Notes at a fixed coupon rate of 3.250 %. | text | 4.800 | percentItemType | text: <entity> 4.800 </entity> <entity type> percentItemType </entity type> <context> The Company’s debt issuances and redemptions support its capital structure strategy objectives of funding its business and growth initiatives while minimizing its risk-adjusted cost of capital. In March 2023, the Company issued $ 500 of three-year Senior Notes at a fixed coupon rate of 4.800 %, $ 500 of five-year Senior Notes at a fixed coupon rate of 4.600 % and $ 500 of ten-year Senior Notes at a fixed coupon rate of 4.600 %. In August 2022, the Company issued $ 500 of three-year Senior Notes at a fixed coupon rate of 3.100 %, $ 500 of five-year Senior Notes at a fixed coupon rate of 3.100 % and $ 500 of ten-year Senior Notes at a fixed coupon rate of 3.250 %. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
The Company’s debt issuances and redemptions support its capital structure strategy objectives of funding its business and growth initiatives while minimizing its risk-adjusted cost of capital. In March 2023, the Company issued $ 500 of three-year Senior Notes at a fixed coupon rate of 4.800 %, $ 500 of five-year Senior Notes at a fixed coupon rate of 4.600 % and $ 500 of ten-year Senior Notes at a fixed coupon rate of 4.600 %. In August 2022, the Company issued $ 500 of three-year Senior Notes at a fixed coupon rate of 3.100 %, $ 500 of five-year Senior Notes at a fixed coupon rate of 3.100 % and $ 500 of ten-year Senior Notes at a fixed coupon rate of 3.250 %. | text | 4.600 | percentItemType | text: <entity> 4.600 </entity> <entity type> percentItemType </entity type> <context> The Company’s debt issuances and redemptions support its capital structure strategy objectives of funding its business and growth initiatives while minimizing its risk-adjusted cost of capital. In March 2023, the Company issued $ 500 of three-year Senior Notes at a fixed coupon rate of 4.800 %, $ 500 of five-year Senior Notes at a fixed coupon rate of 4.600 % and $ 500 of ten-year Senior Notes at a fixed coupon rate of 4.600 %. In August 2022, the Company issued $ 500 of three-year Senior Notes at a fixed coupon rate of 3.100 %, $ 500 of five-year Senior Notes at a fixed coupon rate of 3.100 % and $ 500 of ten-year Senior Notes at a fixed coupon rate of 3.250 %. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
The Company’s debt issuances and redemptions support its capital structure strategy objectives of funding its business and growth initiatives while minimizing its risk-adjusted cost of capital. In March 2023, the Company issued $ 500 of three-year Senior Notes at a fixed coupon rate of 4.800 %, $ 500 of five-year Senior Notes at a fixed coupon rate of 4.600 % and $ 500 of ten-year Senior Notes at a fixed coupon rate of 4.600 %. In August 2022, the Company issued $ 500 of three-year Senior Notes at a fixed coupon rate of 3.100 %, $ 500 of five-year Senior Notes at a fixed coupon rate of 3.100 % and $ 500 of ten-year Senior Notes at a fixed coupon rate of 3.250 %. | text | 3.100 | percentItemType | text: <entity> 3.100 </entity> <entity type> percentItemType </entity type> <context> The Company’s debt issuances and redemptions support its capital structure strategy objectives of funding its business and growth initiatives while minimizing its risk-adjusted cost of capital. In March 2023, the Company issued $ 500 of three-year Senior Notes at a fixed coupon rate of 4.800 %, $ 500 of five-year Senior Notes at a fixed coupon rate of 4.600 % and $ 500 of ten-year Senior Notes at a fixed coupon rate of 4.600 %. In August 2022, the Company issued $ 500 of three-year Senior Notes at a fixed coupon rate of 3.100 %, $ 500 of five-year Senior Notes at a fixed coupon rate of 3.100 % and $ 500 of ten-year Senior Notes at a fixed coupon rate of 3.250 %. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
The Company’s debt issuances and redemptions support its capital structure strategy objectives of funding its business and growth initiatives while minimizing its risk-adjusted cost of capital. In March 2023, the Company issued $ 500 of three-year Senior Notes at a fixed coupon rate of 4.800 %, $ 500 of five-year Senior Notes at a fixed coupon rate of 4.600 % and $ 500 of ten-year Senior Notes at a fixed coupon rate of 4.600 %. In August 2022, the Company issued $ 500 of three-year Senior Notes at a fixed coupon rate of 3.100 %, $ 500 of five-year Senior Notes at a fixed coupon rate of 3.100 % and $ 500 of ten-year Senior Notes at a fixed coupon rate of 3.250 %. | text | 3.250 | percentItemType | text: <entity> 3.250 </entity> <entity type> percentItemType </entity type> <context> The Company’s debt issuances and redemptions support its capital structure strategy objectives of funding its business and growth initiatives while minimizing its risk-adjusted cost of capital. In March 2023, the Company issued $ 500 of three-year Senior Notes at a fixed coupon rate of 4.800 %, $ 500 of five-year Senior Notes at a fixed coupon rate of 4.600 % and $ 500 of ten-year Senior Notes at a fixed coupon rate of 4.600 %. In August 2022, the Company issued $ 500 of three-year Senior Notes at a fixed coupon rate of 3.100 %, $ 500 of five-year Senior Notes at a fixed coupon rate of 3.100 % and $ 500 of ten-year Senior Notes at a fixed coupon rate of 3.250 %. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
At December 31, 2023, the Company had access to unused domestic and foreign lines of credit of $ 3,574 (including under the facility discussed below) and could also issue long-term debt pursuant to an effective shelf registration statement. In November 2022, the Company entered into an amended and restated $ 3,000 five-year revolving credit facility with a syndicate of banks for a five-year term expiring November 2027, which replaced, on substantially similar terms, the Company’s $ 3,000 revolving credit facility that was scheduled to expire in August 2026. In November 2023, the Company extended the term of the credit facility for an additional year, expiring in November 2028. Commitment fees related to the credit facility are not material. | text | 3574 | monetaryItemType | text: <entity> 3574 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2023, the Company had access to unused domestic and foreign lines of credit of $ 3,574 (including under the facility discussed below) and could also issue long-term debt pursuant to an effective shelf registration statement. In November 2022, the Company entered into an amended and restated $ 3,000 five-year revolving credit facility with a syndicate of banks for a five-year term expiring November 2027, which replaced, on substantially similar terms, the Company’s $ 3,000 revolving credit facility that was scheduled to expire in August 2026. In November 2023, the Company extended the term of the credit facility for an additional year, expiring in November 2028. Commitment fees related to the credit facility are not material. </context> | us-gaap:LineOfCreditFacilityRemainingBorrowingCapacity |
At December 31, 2023, the Company had access to unused domestic and foreign lines of credit of $ 3,574 (including under the facility discussed below) and could also issue long-term debt pursuant to an effective shelf registration statement. In November 2022, the Company entered into an amended and restated $ 3,000 five-year revolving credit facility with a syndicate of banks for a five-year term expiring November 2027, which replaced, on substantially similar terms, the Company’s $ 3,000 revolving credit facility that was scheduled to expire in August 2026. In November 2023, the Company extended the term of the credit facility for an additional year, expiring in November 2028. Commitment fees related to the credit facility are not material. | text | 3000 | monetaryItemType | text: <entity> 3000 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2023, the Company had access to unused domestic and foreign lines of credit of $ 3,574 (including under the facility discussed below) and could also issue long-term debt pursuant to an effective shelf registration statement. In November 2022, the Company entered into an amended and restated $ 3,000 five-year revolving credit facility with a syndicate of banks for a five-year term expiring November 2027, which replaced, on substantially similar terms, the Company’s $ 3,000 revolving credit facility that was scheduled to expire in August 2026. In November 2023, the Company extended the term of the credit facility for an additional year, expiring in November 2028. Commitment fees related to the credit facility are not material. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
The carrying amount of cash, cash equivalents, accounts receivable and short-term debt approximated fair value as of December 31, 2023 and 2022. The estimated fair value of the Company’s long-term debt, including the current portion, as of December 31, 2023 and 2022, was $ 7,862 and $ 8,184 , respectively, and the related carrying value was $ 8,239 and $ 8,755 , respectively. The estimated fair value of long-term debt was derived principally from quoted prices on the Company’s outstanding fixed-term notes (Level 2 valuation). | text | 7862 | monetaryItemType | text: <entity> 7862 </entity> <entity type> monetaryItemType </entity type> <context> The carrying amount of cash, cash equivalents, accounts receivable and short-term debt approximated fair value as of December 31, 2023 and 2022. The estimated fair value of the Company’s long-term debt, including the current portion, as of December 31, 2023 and 2022, was $ 7,862 and $ 8,184 , respectively, and the related carrying value was $ 8,239 and $ 8,755 , respectively. The estimated fair value of long-term debt was derived principally from quoted prices on the Company’s outstanding fixed-term notes (Level 2 valuation). </context> | us-gaap:DebtInstrumentFairValue |
The carrying amount of cash, cash equivalents, accounts receivable and short-term debt approximated fair value as of December 31, 2023 and 2022. The estimated fair value of the Company’s long-term debt, including the current portion, as of December 31, 2023 and 2022, was $ 7,862 and $ 8,184 , respectively, and the related carrying value was $ 8,239 and $ 8,755 , respectively. The estimated fair value of long-term debt was derived principally from quoted prices on the Company’s outstanding fixed-term notes (Level 2 valuation). | text | 8184 | monetaryItemType | text: <entity> 8184 </entity> <entity type> monetaryItemType </entity type> <context> The carrying amount of cash, cash equivalents, accounts receivable and short-term debt approximated fair value as of December 31, 2023 and 2022. The estimated fair value of the Company’s long-term debt, including the current portion, as of December 31, 2023 and 2022, was $ 7,862 and $ 8,184 , respectively, and the related carrying value was $ 8,239 and $ 8,755 , respectively. The estimated fair value of long-term debt was derived principally from quoted prices on the Company’s outstanding fixed-term notes (Level 2 valuation). </context> | us-gaap:DebtInstrumentFairValue |
The carrying amount of cash, cash equivalents, accounts receivable and short-term debt approximated fair value as of December 31, 2023 and 2022. The estimated fair value of the Company’s long-term debt, including the current portion, as of December 31, 2023 and 2022, was $ 7,862 and $ 8,184 , respectively, and the related carrying value was $ 8,239 and $ 8,755 , respectively. The estimated fair value of long-term debt was derived principally from quoted prices on the Company’s outstanding fixed-term notes (Level 2 valuation). | text | 8239 | monetaryItemType | text: <entity> 8239 </entity> <entity type> monetaryItemType </entity type> <context> The carrying amount of cash, cash equivalents, accounts receivable and short-term debt approximated fair value as of December 31, 2023 and 2022. The estimated fair value of the Company’s long-term debt, including the current portion, as of December 31, 2023 and 2022, was $ 7,862 and $ 8,184 , respectively, and the related carrying value was $ 8,239 and $ 8,755 , respectively. The estimated fair value of long-term debt was derived principally from quoted prices on the Company’s outstanding fixed-term notes (Level 2 valuation). </context> | us-gaap:LongTermDebt |
The carrying amount of cash, cash equivalents, accounts receivable and short-term debt approximated fair value as of December 31, 2023 and 2022. The estimated fair value of the Company’s long-term debt, including the current portion, as of December 31, 2023 and 2022, was $ 7,862 and $ 8,184 , respectively, and the related carrying value was $ 8,239 and $ 8,755 , respectively. The estimated fair value of long-term debt was derived principally from quoted prices on the Company’s outstanding fixed-term notes (Level 2 valuation). | text | 8755 | monetaryItemType | text: <entity> 8755 </entity> <entity type> monetaryItemType </entity type> <context> The carrying amount of cash, cash equivalents, accounts receivable and short-term debt approximated fair value as of December 31, 2023 and 2022. The estimated fair value of the Company’s long-term debt, including the current portion, as of December 31, 2023 and 2022, was $ 7,862 and $ 8,184 , respectively, and the related carrying value was $ 8,239 and $ 8,755 , respectively. The estimated fair value of long-term debt was derived principally from quoted prices on the Company’s outstanding fixed-term notes (Level 2 valuation). </context> | us-gaap:LongTermDebt |
The Company has the authority to issue 50,262,150 shares of preference stock. | text | 50262150 | sharesItemType | text: <entity> 50262150 </entity> <entity type> sharesItemType </entity type> <context> The Company has the authority to issue 50,262,150 shares of preference stock. </context> | us-gaap:PreferredStockSharesAuthorized |
On March 10, 2022, the Board authorized the repurchase of shares of the Company’s common stock having an aggregate purchase price of up to $ 5 billion under a new share repurchase program (the “2022 Program”), which replaced a previously authorized share repurchase program. The Board also has authorized share repurchases on an ongoing basis to fulfill certain requirements of the Company’s compensation and benefit programs. The shares are repurchased from time to time in open market or privately negotiated transactions at the Company’s discretion, subject to market conditions, customary blackout periods and other factors. The Company repurchased its common stock at a cost of $ 1,128 during 2023. | text | 5 | monetaryItemType | text: <entity> 5 </entity> <entity type> monetaryItemType </entity type> <context> On March 10, 2022, the Board authorized the repurchase of shares of the Company’s common stock having an aggregate purchase price of up to $ 5 billion under a new share repurchase program (the “2022 Program”), which replaced a previously authorized share repurchase program. The Board also has authorized share repurchases on an ongoing basis to fulfill certain requirements of the Company’s compensation and benefit programs. The shares are repurchased from time to time in open market or privately negotiated transactions at the Company’s discretion, subject to market conditions, customary blackout periods and other factors. The Company repurchased its common stock at a cost of $ 1,128 during 2023. </context> | us-gaap:StockRepurchaseProgramAuthorizedAmount1 |
On March 10, 2022, the Board authorized the repurchase of shares of the Company’s common stock having an aggregate purchase price of up to $ 5 billion under a new share repurchase program (the “2022 Program”), which replaced a previously authorized share repurchase program. The Board also has authorized share repurchases on an ongoing basis to fulfill certain requirements of the Company’s compensation and benefit programs. The shares are repurchased from time to time in open market or privately negotiated transactions at the Company’s discretion, subject to market conditions, customary blackout periods and other factors. The Company repurchased its common stock at a cost of $ 1,128 during 2023. | text | 1128 | monetaryItemType | text: <entity> 1128 </entity> <entity type> monetaryItemType </entity type> <context> On March 10, 2022, the Board authorized the repurchase of shares of the Company’s common stock having an aggregate purchase price of up to $ 5 billion under a new share repurchase program (the “2022 Program”), which replaced a previously authorized share repurchase program. The Board also has authorized share repurchases on an ongoing basis to fulfill certain requirements of the Company’s compensation and benefit programs. The shares are repurchased from time to time in open market or privately negotiated transactions at the Company’s discretion, subject to market conditions, customary blackout periods and other factors. The Company repurchased its common stock at a cost of $ 1,128 during 2023. </context> | us-gaap:PaymentsForRepurchaseOfCommonStock |
The Company has one incentive compensation plan pursuant to which it issues restricted stock units (both performance-based and time-vested) and stock options to employees and shares of common stock and stock options to non-employee directors. The Personnel and Organization Committee of the Board of Directors, which is comprised entirely of independent directors, administers the incentive compensation plan. The total stock-based compensation expense charged against pretax income for this plan was $ 122 , $ 125 and $ 135 for the years ended December 31, 2023, 2022 and 2021, respectively. The total income tax benefit recognized on stock-based compensation, excluding excess tax benefits, was approximately $ 22 , $ 25 and $ 25 for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 122 | monetaryItemType | text: <entity> 122 </entity> <entity type> monetaryItemType </entity type> <context> The Company has one incentive compensation plan pursuant to which it issues restricted stock units (both performance-based and time-vested) and stock options to employees and shares of common stock and stock options to non-employee directors. The Personnel and Organization Committee of the Board of Directors, which is comprised entirely of independent directors, administers the incentive compensation plan. The total stock-based compensation expense charged against pretax income for this plan was $ 122 , $ 125 and $ 135 for the years ended December 31, 2023, 2022 and 2021, respectively. The total income tax benefit recognized on stock-based compensation, excluding excess tax benefits, was approximately $ 22 , $ 25 and $ 25 for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:AllocatedShareBasedCompensationExpense |
The Company has one incentive compensation plan pursuant to which it issues restricted stock units (both performance-based and time-vested) and stock options to employees and shares of common stock and stock options to non-employee directors. The Personnel and Organization Committee of the Board of Directors, which is comprised entirely of independent directors, administers the incentive compensation plan. The total stock-based compensation expense charged against pretax income for this plan was $ 122 , $ 125 and $ 135 for the years ended December 31, 2023, 2022 and 2021, respectively. The total income tax benefit recognized on stock-based compensation, excluding excess tax benefits, was approximately $ 22 , $ 25 and $ 25 for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 125 | monetaryItemType | text: <entity> 125 </entity> <entity type> monetaryItemType </entity type> <context> The Company has one incentive compensation plan pursuant to which it issues restricted stock units (both performance-based and time-vested) and stock options to employees and shares of common stock and stock options to non-employee directors. The Personnel and Organization Committee of the Board of Directors, which is comprised entirely of independent directors, administers the incentive compensation plan. The total stock-based compensation expense charged against pretax income for this plan was $ 122 , $ 125 and $ 135 for the years ended December 31, 2023, 2022 and 2021, respectively. The total income tax benefit recognized on stock-based compensation, excluding excess tax benefits, was approximately $ 22 , $ 25 and $ 25 for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:AllocatedShareBasedCompensationExpense |
The Company has one incentive compensation plan pursuant to which it issues restricted stock units (both performance-based and time-vested) and stock options to employees and shares of common stock and stock options to non-employee directors. The Personnel and Organization Committee of the Board of Directors, which is comprised entirely of independent directors, administers the incentive compensation plan. The total stock-based compensation expense charged against pretax income for this plan was $ 122 , $ 125 and $ 135 for the years ended December 31, 2023, 2022 and 2021, respectively. The total income tax benefit recognized on stock-based compensation, excluding excess tax benefits, was approximately $ 22 , $ 25 and $ 25 for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 135 | monetaryItemType | text: <entity> 135 </entity> <entity type> monetaryItemType </entity type> <context> The Company has one incentive compensation plan pursuant to which it issues restricted stock units (both performance-based and time-vested) and stock options to employees and shares of common stock and stock options to non-employee directors. The Personnel and Organization Committee of the Board of Directors, which is comprised entirely of independent directors, administers the incentive compensation plan. The total stock-based compensation expense charged against pretax income for this plan was $ 122 , $ 125 and $ 135 for the years ended December 31, 2023, 2022 and 2021, respectively. The total income tax benefit recognized on stock-based compensation, excluding excess tax benefits, was approximately $ 22 , $ 25 and $ 25 for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:AllocatedShareBasedCompensationExpense |
The Company has one incentive compensation plan pursuant to which it issues restricted stock units (both performance-based and time-vested) and stock options to employees and shares of common stock and stock options to non-employee directors. The Personnel and Organization Committee of the Board of Directors, which is comprised entirely of independent directors, administers the incentive compensation plan. The total stock-based compensation expense charged against pretax income for this plan was $ 122 , $ 125 and $ 135 for the years ended December 31, 2023, 2022 and 2021, respectively. The total income tax benefit recognized on stock-based compensation, excluding excess tax benefits, was approximately $ 22 , $ 25 and $ 25 for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 22 | monetaryItemType | text: <entity> 22 </entity> <entity type> monetaryItemType </entity type> <context> The Company has one incentive compensation plan pursuant to which it issues restricted stock units (both performance-based and time-vested) and stock options to employees and shares of common stock and stock options to non-employee directors. The Personnel and Organization Committee of the Board of Directors, which is comprised entirely of independent directors, administers the incentive compensation plan. The total stock-based compensation expense charged against pretax income for this plan was $ 122 , $ 125 and $ 135 for the years ended December 31, 2023, 2022 and 2021, respectively. The total income tax benefit recognized on stock-based compensation, excluding excess tax benefits, was approximately $ 22 , $ 25 and $ 25 for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense |
The Company has one incentive compensation plan pursuant to which it issues restricted stock units (both performance-based and time-vested) and stock options to employees and shares of common stock and stock options to non-employee directors. The Personnel and Organization Committee of the Board of Directors, which is comprised entirely of independent directors, administers the incentive compensation plan. The total stock-based compensation expense charged against pretax income for this plan was $ 122 , $ 125 and $ 135 for the years ended December 31, 2023, 2022 and 2021, respectively. The total income tax benefit recognized on stock-based compensation, excluding excess tax benefits, was approximately $ 22 , $ 25 and $ 25 for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 25 | monetaryItemType | text: <entity> 25 </entity> <entity type> monetaryItemType </entity type> <context> The Company has one incentive compensation plan pursuant to which it issues restricted stock units (both performance-based and time-vested) and stock options to employees and shares of common stock and stock options to non-employee directors. The Personnel and Organization Committee of the Board of Directors, which is comprised entirely of independent directors, administers the incentive compensation plan. The total stock-based compensation expense charged against pretax income for this plan was $ 122 , $ 125 and $ 135 for the years ended December 31, 2023, 2022 and 2021, respectively. The total income tax benefit recognized on stock-based compensation, excluding excess tax benefits, was approximately $ 22 , $ 25 and $ 25 for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense |
The Company issues non-qualified stock options to non-employee directors, officers and other employees. Beginning in 2019, stock options have a contractual term of eight years . Prior to 2019, stock options generally had a contractual term of six years . Stock options generally vest ratably over three years . As of December 31, 2023, approximately 19,950,841 shares of common stock were available for future stock option grants. | text | 19950841 | sharesItemType | text: <entity> 19950841 </entity> <entity type> sharesItemType </entity type> <context> The Company issues non-qualified stock options to non-employee directors, officers and other employees. Beginning in 2019, stock options have a contractual term of eight years . Prior to 2019, stock options generally had a contractual term of six years . Stock options generally vest ratably over three years . As of December 31, 2023, approximately 19,950,841 shares of common stock were available for future stock option grants. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant |
, $ 47 and $ 83 , respectively. | text | 47 | monetaryItemType | text: <entity> 47 </entity> <entity type> monetaryItemType </entity type> <context> , $ 47 and $ 83 , respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue |
, $ 47 and $ 83 , respectively. | text | 83 | monetaryItemType | text: <entity> 83 </entity> <entity type> monetaryItemType </entity type> <context> , $ 47 and $ 83 , respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue |
, $ 418 and $ 424 , respectively. | text | 418 | monetaryItemType | text: <entity> 418 </entity> <entity type> monetaryItemType </entity type> <context> , $ 418 and $ 424 , respectively. </context> | us-gaap:ProceedsFromStockOptionsExercised |
, $ 418 and $ 424 , respectively. | text | 424 | monetaryItemType | text: <entity> 424 </entity> <entity type> monetaryItemType </entity type> <context> , $ 418 and $ 424 , respectively. </context> | us-gaap:ProceedsFromStockOptionsExercised |
As of December 31, 2023, there was $ 26 of total unrecognized compensation expense related to unvested performance-based restricted stock unit awards, which will be recognized ratably over the remaining performance period. | text | 26 | monetaryItemType | text: <entity> 26 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023, there was $ 26 of total unrecognized compensation expense related to unvested performance-based restricted stock unit awards, which will be recognized ratably over the remaining performance period. </context> | us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized |
The Company also grants time-vested restricted stock unit awards. Awards either vest at the end of the restriction period, which is generally three years from the date of grant, or ratably over the restriction period. As of December 31, 2023, approximately 8,571,208 shares of common stock were available for future restricted stock unit awards. | text | 8571208 | sharesItemType | text: <entity> 8571208 </entity> <entity type> sharesItemType </entity type> <context> The Company also grants time-vested restricted stock unit awards. Awards either vest at the end of the restriction period, which is generally three years from the date of grant, or ratably over the restriction period. As of December 31, 2023, approximately 8,571,208 shares of common stock were available for future restricted stock unit awards. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant |
As of December 31, 2023, there was $ 60 of total unrecognized compensation expense related to unvested time-vested restricted stock unit awards, which will be recognized over a weighted-average period of 1.6 years. The total fair value of time-vested restricted stock units vested during the years ended December 31, 2023, 2022 and 2021 was $ 45 , $ 40 and $ 47 , respectively. | text | 60 | monetaryItemType | text: <entity> 60 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023, there was $ 60 of total unrecognized compensation expense related to unvested time-vested restricted stock unit awards, which will be recognized over a weighted-average period of 1.6 years. The total fair value of time-vested restricted stock units vested during the years ended December 31, 2023, 2022 and 2021 was $ 45 , $ 40 and $ 47 , respectively. </context> | us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized |
As of December 31, 2023, there was $ 60 of total unrecognized compensation expense related to unvested time-vested restricted stock unit awards, which will be recognized over a weighted-average period of 1.6 years. The total fair value of time-vested restricted stock units vested during the years ended December 31, 2023, 2022 and 2021 was $ 45 , $ 40 and $ 47 , respectively. | text | 45 | monetaryItemType | text: <entity> 45 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023, there was $ 60 of total unrecognized compensation expense related to unvested time-vested restricted stock unit awards, which will be recognized over a weighted-average period of 1.6 years. The total fair value of time-vested restricted stock units vested during the years ended December 31, 2023, 2022 and 2021 was $ 45 , $ 40 and $ 47 , respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue |
As of December 31, 2023, there was $ 60 of total unrecognized compensation expense related to unvested time-vested restricted stock unit awards, which will be recognized over a weighted-average period of 1.6 years. The total fair value of time-vested restricted stock units vested during the years ended December 31, 2023, 2022 and 2021 was $ 45 , $ 40 and $ 47 , respectively. | text | 40 | monetaryItemType | text: <entity> 40 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023, there was $ 60 of total unrecognized compensation expense related to unvested time-vested restricted stock unit awards, which will be recognized over a weighted-average period of 1.6 years. The total fair value of time-vested restricted stock units vested during the years ended December 31, 2023, 2022 and 2021 was $ 45 , $ 40 and $ 47 , respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue |
As of December 31, 2023, there was $ 60 of total unrecognized compensation expense related to unvested time-vested restricted stock unit awards, which will be recognized over a weighted-average period of 1.6 years. The total fair value of time-vested restricted stock units vested during the years ended December 31, 2023, 2022 and 2021 was $ 45 , $ 40 and $ 47 , respectively. | text | 47 | monetaryItemType | text: <entity> 47 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023, there was $ 60 of total unrecognized compensation expense related to unvested time-vested restricted stock unit awards, which will be recognized over a weighted-average period of 1.6 years. The total fair value of time-vested restricted stock units vested during the years ended December 31, 2023, 2022 and 2021 was $ 45 , $ 40 and $ 47 , respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue |
) through the introduction of a leveraged ESOP that funds certain benefits for employees who have met eligibility requirements. As of December 31, 2023 and 2022, there were 8,348,104 and 9,417,692 shares of common stock, respectively, outstanding and issued to the Company | text | 8348104 | sharesItemType | text: <entity> 8348104 </entity> <entity type> sharesItemType </entity type> <context> ) through the introduction of a leveraged ESOP that funds certain benefits for employees who have met eligibility requirements. As of December 31, 2023 and 2022, there were 8,348,104 and 9,417,692 shares of common stock, respectively, outstanding and issued to the Company </context> | us-gaap:EmployeeStockOwnershipPlanESOPSharesInESOP |
) through the introduction of a leveraged ESOP that funds certain benefits for employees who have met eligibility requirements. As of December 31, 2023 and 2022, there were 8,348,104 and 9,417,692 shares of common stock, respectively, outstanding and issued to the Company | text | 9417692 | sharesItemType | text: <entity> 9417692 </entity> <entity type> sharesItemType </entity type> <context> ) through the introduction of a leveraged ESOP that funds certain benefits for employees who have met eligibility requirements. As of December 31, 2023 and 2022, there were 8,348,104 and 9,417,692 shares of common stock, respectively, outstanding and issued to the Company </context> | us-gaap:EmployeeStockOwnershipPlanESOPSharesInESOP |
Dividends on stock held by the ESOP are paid to the ESOP trust and, together with cash contributions from the Company, are (a) used by the ESOP to repay principal and interest, (b) credited to participant accounts, (c) used for contributions to the Company’s defined contribution plans or (d) used to pay the Company’s defined contribution plan expenses. Stock is allocated to participants based upon the ratio of the current year’s debt service to the sum of total outstanding principal and interest payments over the life of the debt. As of December 31, 2023, 8,020,708 shares of common stock had been released and allocated to participant accounts and 327,396 shares of common stock were available for future release and allocation to participant accounts. | text | 8020708 | sharesItemType | text: <entity> 8020708 </entity> <entity type> sharesItemType </entity type> <context> Dividends on stock held by the ESOP are paid to the ESOP trust and, together with cash contributions from the Company, are (a) used by the ESOP to repay principal and interest, (b) credited to participant accounts, (c) used for contributions to the Company’s defined contribution plans or (d) used to pay the Company’s defined contribution plan expenses. Stock is allocated to participants based upon the ratio of the current year’s debt service to the sum of total outstanding principal and interest payments over the life of the debt. As of December 31, 2023, 8,020,708 shares of common stock had been released and allocated to participant accounts and 327,396 shares of common stock were available for future release and allocation to participant accounts. </context> | us-gaap:EmployeeStockOwnershipPlanESOPNumberOfAllocatedShares |
Dividends on stock held by the ESOP are paid to the ESOP trust and, together with cash contributions from the Company, are (a) used by the ESOP to repay principal and interest, (b) credited to participant accounts, (c) used for contributions to the Company’s defined contribution plans or (d) used to pay the Company’s defined contribution plan expenses. Stock is allocated to participants based upon the ratio of the current year’s debt service to the sum of total outstanding principal and interest payments over the life of the debt. As of December 31, 2023, 8,020,708 shares of common stock had been released and allocated to participant accounts and 327,396 shares of common stock were available for future release and allocation to participant accounts. | text | 327396 | sharesItemType | text: <entity> 327396 </entity> <entity type> sharesItemType </entity type> <context> Dividends on stock held by the ESOP are paid to the ESOP trust and, together with cash contributions from the Company, are (a) used by the ESOP to repay principal and interest, (b) credited to participant accounts, (c) used for contributions to the Company’s defined contribution plans or (d) used to pay the Company’s defined contribution plan expenses. Stock is allocated to participants based upon the ratio of the current year’s debt service to the sum of total outstanding principal and interest payments over the life of the debt. As of December 31, 2023, 8,020,708 shares of common stock had been released and allocated to participant accounts and 327,396 shares of common stock were available for future release and allocation to participant accounts. </context> | us-gaap:EmployeeStockOwnershipPlanESOPNumberOfSuspenseShares |
The Company paid dividends on the shares held by the ESOP of $ 17 in 2023, $ 19 in 2022 and $ 20 in 2021. The Company did no t make any contributions to the ESOP in 2023, 2022 or 2021. | text | 17 | monetaryItemType | text: <entity> 17 </entity> <entity type> monetaryItemType </entity type> <context> The Company paid dividends on the shares held by the ESOP of $ 17 in 2023, $ 19 in 2022 and $ 20 in 2021. The Company did no t make any contributions to the ESOP in 2023, 2022 or 2021. </context> | us-gaap:EmployeeStockOwnershipPlanESOPDividendsPaidToESOP |
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